1. NAB has no direct exposure to subprime. Months later wrote off $830m CDOS. Implication - He did not know what was going on.
2. Issued $800m bonds just days before the write-off. Implication 1 - inadequate capital to make provision without the bond issue. Implication 2 - screwing the bond investors.
3. Need to write off because CDOS are no longer AAA. But they were downgraded by S&P in Feb. Implication - sleeping on the job.
1. NAB has no direct exposure to subprime. Months later wrote...
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Last
$37.36 |
Change
0.080(0.21%) |
Mkt cap ! $114.6B | |||
| Open | High | Low | Value | Volume |
| $37.55 | $37.62 | $37.36 | $8.732M | 232.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 693 | $37.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $37.36 | 386 | 6 |
View Market Depth
| Last trade - 10.31am 14/10/2024 (20 minute delay) ? |
| NAB (ASX) Chart |